WEDC: Madison-based biotech company certified by state as Qualified New Business Venture

Madison-based Varigen Biosciences Corp. has received Qualified New Business Venture (QNBV) certification from the Wisconsin Economic Development Corporation (WEDC).

QNBV status allows investors in qualified startup and early-stage companies to receive a 25 percent state tax credit on the amount they invest in the business. The program, one of several WEDC initiatives aimed at supporting startups, helps early-stage companies secure new investment and accelerates their potential for growth and job creation in Wisconsin.

Investors in Varigen, founded in 2016, are authorized to receive up to $750,000 million in state tax credits through March 2018.

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